GE Vernova Inc.

Dominant, scaled electric-power equipment and services franchise with top-decile returns, a $150B backlog and surging profitability.

Strengths

• ROE 43.7% (87th pct) and ROA 7.75% (85th pct) with net margin 12.8% (78th) and net income up 215% (87th pct)
• Wide-moat installed base generating ~25% of world electricity; $5.0B operating cash flow, $3.7B FCF and $150B RPO backlog

Risks

• Low gross margin (19.8%, 18th pct) and sub-1.0 current ratio reflect a working-capital-heavy, supply-constrained model
• Tariff costs (~$250M), large Prolec GE acquisition and project-execution/warranty exposure

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Weak liquidityCurrent ratio 0.98 (<1)
• Revenue declineRevenue -14.8% YoY